Enrichment

Fixing inequality and insecurity in the USA

Graham Watson

8th October 2022

James K.Galbraith argues in this piece published in the Guardian that the United States economy has for too longer fostered inequality and reduce the poorest in society to a state of near-penury and the insecurity of living from hand to mouth.

He suggests a number of solutions to the widening inequality - based on strengthening the benefit system, boosting the minimum wage and investing in infrastructure and fighting climate change among other things.

He writes:

"In the 1980s, taxes were shifted away from personal & corporate incomes & capital gains & toward payrolls & sales – [resulting in the] … rise of an oligarchy ... The remedy now is to tax these accumulations … to bring the new plutocrats back to earth.”

"On one side, oceans of wealth and power. On the other, precarity and powerlessness."

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to tutor2u, reads voraciously and is interested in all aspects of Teaching and Learning.

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